Practice Management news October 2008

The demands on the accounting profession have changed in unexpected ways in recent years, driven by increasing regulatory complexity, the need for specialization, the globalization of businesses, and shifting demographics. In addition to this are economic factors, which will not only challenge some firms, but will also bring new opportunities. CCH, a Wolters Kluwer business conducted a nationwide survey of accounting firms to take a closer look at the issues firms face today and the trends that will influence the profession over the next three years.

Setting aside their original blueprint for growth agenda, three prominent entrepreneurs, guest speakers on Ernst &amp; Young's October 14th Thought Center Webcast Strategic Growth Leadership Series, agreed to engage instead in a candid discussion on what entrepreneurs actually can control and manage in a time when they can't control the economy.

INSIDE Public Accounting's Best of the Best recognition honors 25 firms annually for their wise management and superior operational performance in fiscal and management metrics based on 50 criteria. Another 25 firms are recognized with designations as Best of the Best Honorable Mentions. This is the 14th year INSIDE Public Accounting (IPA) has named the best-managed accounting firms. Two hundred fifty firms participated in this year's IPA Annual Survey and Analysis of Firms. Each of the firms is eligible for the IPA Best of Best honor, regardless of size.

By Phyllis Weiss HaserotThis is the second in a new series of regular columns by generational expert and internationally known consultant, coach, writer, and speaker Phyllis Weiss Haserot on intergenerational relations and navigating the challenges of the multi-generational workplace for better productivity, retention, succession planning, and business development results.All the generations want more respect from the others. Below are things I think are under-appreciated. Recognizing them can help to build bridges.

Betsy Nolen is not an accountant, but at the CPA firm of Barfield, Murphy, Shank &amp; Smith in Birmingham, Alabama, she's a VIP. Ask anyone who works there and they'll tell you that this young woman is well-loved. What does she do? For the last two years, she has filled the role of personal valet to every member of the BMSS staff, from partners to the receptionist. It all started when founding partner, John Shank read about another firm that employed a valet to help busy CPAs get through the hectic tax season with a little more peace of mind. Shank admits... he stole the idea...

By Dr. Travis BradberryIt seems there's always a steady supply of sympathy available for anyone stuck working under a bad boss. Most everyone I know has been there at one time or another, working under a tyrant who somehow manages to survive in this world without people skills. If you haven't had a boss like this, you should consider buying a lottery ticket--and I mean soon. You are that lucky.